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UBS Cuts Tesla to Sell on Concern Over AI-Driven Share Rally; Raises Target Price to $197 From $147

1) TSLA price disconnecting from fundamentals has occurred in the past and can persist for a while. 2) 2Q24 results may be above expectations, causing positive revisions to 25/26F helping to sustain momentum. 3) Investor tepidness to be negative into “robo-taxi” day, and/or there is a true upside surprise at the event. In our view, we believe TSLA is making good technological progress, but the challenge is hard and may face operational challenges . More meaningful than robo-taxi is showing the n
UBS Cuts Tesla to Sell on Concern Over AI-Driven Share Rally; Raises Target Price to $197 From $147

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